DEAL FUEL BY ROCKET EQUITIES — February 2022

Arushi Chauhan

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4 min readMar 24, 2022

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Companies in Southeast Asia have raised over US$2.133 Billion* in February 2022

Fundraising across Sectors for SEA counties

February 2022 Highlights

SaaS & IT Services received the highest amount of funding
Fintech & Financial Services was also a popular sector with the investors
New Media Technology and Metaverse companies are garnering growing investor interest
Singapore & Indonesia are the most funded countries in Southeast Asia
Tech-based companies in the Philippines, Vietnam & Thailand are increasingly getting funded

Fundraising Summary by Sectors & Countries

A summary of all the fundraising activity and top deals from SEA landscape for Feb 2022, VIMPTS (Vietnam, Indonesia, Malaysia, Philippines, Thailand, and Singapore)

FINTECH SECTOR HAS RECEIVED THE HIGHEST AMOUNT OF FUNDRAISE IN SEA CLOSELY FOLLOWED BY SAAS, IT & SOFTWARE

Metaverse with companies like — platforms trading in NFTs, Crypto-currency, and 3D modeling — is a popular sector in SEA with Singapore being a global hub for New Media Tech.

Source: News reports from Dealstreet Asia, Tech in Asia, and other media reports. *Other Sectors include — Foodtech, Mobility, Sustainable Energy, Power, and Agritech

PHILIPPINES IS EMERGING AS THE NEW HUB FOR TECH INVESTORS IN SEA

Until recently Singapore and Indonesia were popular among the investors in SEA, but the Philippines and Vietnam with their developing internet infrastructure and the rise of the middle-class population are growing to be an increasingly significant market for tech companies.

Source: News reports from Dealstreet Asia, Tech in Asia, and other media reports.

Top Deals Southeast Asia Feb 2022

Tonik Financial ($131M, Neobank, Philippines)
Funding Societies ($294M, Lending Platform, SEA)
Akulaku ($100M, Indonesia)

DEAL HIGHLIGHTS

A list of the key acquisitions and some notable transactions from Southeast Asia. Source: News reports from Dealstreet Asia, Tech in Asia, and other media reports.

E-commerce is still a safe bet for businesses in SEA
A total of US $77M funds were raised in the E-commerce sector, and it was the only sector where all Southeast Asian countries (VIMPTS) reported some transactions.
SaaS firms are popular with the investors in IT & Software sector
With 6 transactions totaling up to about $76M, Singapore & Indonesia are the top destinations.

Top Deals include
Atlan ($46M, SG)
Hubble ($8.4M, SG)
GoCommet ($7M, SG).

Crypto-Currency Platforms — The Up & Coming
Amber Group’s $200M Series B+ round led by Temasek, boosted its valuation to $3 billion.

Top Deals include:
PDAX ($35M, PH)
Nobi ($4M, ID)
ETHLAS ($2.7, SG

SECTORS IN FOCUS

Health-tech

MIRXES, Biotech, Singapore, a developer of RNA-powered cancer early detection tests raised US$87 million in their Series C.
This is in addition to the US$77 million it raised in July 2021, led by CR-CP Life Science Fund, which is a joint venture between China’s Resources Group & Thailand’s Chareon Pokphand.

Other Notable Mentions
Sirka ($5.6M, Seed, IN)
Dashlabs (Diagnostic services, $1.26M, PH)
MiyaHealth ($4.6M, pre-series A, SG)

Metaverse

Singapore is a global tech hub, and the metaverse fever seems to be rubbing off on the rest of SEA.

Top Deals include:
Amber Group ($200M, Series B+, SG)
PDAX ($35M, Series B+,PH)
Nobi ($4M, Seed, IN)

Other Notable Mentions

VIZZIO ($6.7M, pre-series A, SG), an IT firm that specializes in 3D visualizations for Architecture & Infrastructure.
Silent8 ($40M, Series B, SG), leveraging AI to create custom compliance models for the world’s leading financial institutions.
Social Collectibles ($1.75M, Seed, SG), platform for a community of content creators, bridging the gap and helping them transition from web 2.0 to web 3.0